I've found (and made) some really good deals as well, and also really bad
ones. Ebay is like any other form of shopping: caveat emptor. You cannot
just wander in and bid on the first shiny thing you see. You have to know
exactly what you are looking for, decide if the description matches well
enough, and how much you are willing to pay, before you bid. The only
problems I have had were with items that were not what was described, and
(so far) the sellers have all been good at fixing the porblems.
I confess, I am a sniper. I still decide beforehand what I would spend, but
usually bid in the last few minutes. I have not gone over my limits this
way, I don't always outbid the others, but everytime I put in a reasonable
bid and then have to go to work or something someone outbids ME at the last
minute. This is Rome, so let's pay the piper.
And as far as finding deals, if I need something specific I look frequently
and follow an item for days if needed. Or I just keep my needs in mind and
look to see whats up in the next hour.